Miners have opposed the government’s two-stage bidding formula for e-auction of mining leases, contending that one round would suffice to ensure larger participation and complete transparency.
“With a view to having larger participation and more competition, it is suggested that there should be only one round of auction and, as such, there should not be any concept of an initial price offer,” miners’ body FIMI has written to the government, which sought suggestions on the draft mineral auction rules.
“Once the bidders are declared technically qualified, all such bidders should be allowed to participate in the e-auction. This will ensure complete transparency and fair play in the process, as it cannot be presumed that the left-out bidders after the first round will not succeed in the second round. Besides, such exclusion will be arbitrary,” it added.
Following the passage of the Mines and Minerals (Development and Regulation) Amendment Act, 2015, in March, the mines ministry circulated with the draft mineral auction rules seeking suggestions from the stakeholders. The last day for submission of the suggestions was April 23.
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